The question was: U.S. life insurers received 3% fewer requests for individual coverage in May 2009 than they did a year earlier, according to MIB, Braintree, Mass. But for applicants over age 60, life applications for the month were actually higher than they were in May 2008. How much higher?
The answer is: a). MIB reports that 11% more applicants ages 60 and older filed for life insurance in May 2009 than did so a year earlier.
The MIB Group Inc., Braintree, Mass., bases that figure on an analysis of North American life insurers’ use of its databases to check individual life applications.
U.S. life application volume has fallen in most months since early 2006, MIB says.